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Southern Company Message Board

  • tex7779 tex7779 Mar 26, 2005 3:19 PM Flag

    More random thoughts MIR vs. SO !!

    Let me get this straight.

    Bill Dahlberg and Marce Fuller, Chairman and Officer, respectively of MIR have filed a lawsuit against Bill Dahlberg and Marce Fuller, Chairman and Officer, respectively formerly of SO.

    Maybe it's just me as an engineer, but this is way too strange. Can you imagine the look on whomever is going to be the judge on that case.

    How are they going to prosecute this case as long as they both still are Chairman and Officer of MIR.

    This is another good reason for us to have a shareholder meeting and elect a new BOD that is different from the current one.

    JMHO,

    Tex

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    • >>>>How are they going to prosecute this case as long as they both still are Chairman and Officer of MIR.<<<<

      How right you are! We've already established they won't be fighting for any value for we the shareholders.

    • Has anyone actually seen a complaint filed? Or are you basing your comments on the new POR? Please give a cite as to the actual lawsuit.

    • Will there be a lawsuit if 1.6 Billion was handed over from SO to Mirant.
      I think after Dahlberg saw Lays and Ebbers are languishing in jail, he began to see 20/20.

      This whole lawsuit is just paper work to clean up the whole mess. I dont think it will ever go to trial. If it does Dahlberg and Marce may be going to prison instead of enjoying their ill gotten wealth. They dont to open that can of worms.

      Look for quick settlement.

      • 1 Reply to ljmi2002
      • I agree with you. Strategically speaking, the lawsuit has to be filed to layout the issue that MIR believes that SO has caused $ 1.6 Billion ( or actually more ) in damages. Damages like insolvency, in particular if receipt of this $ 1.6 Billion plus the CA fine can be shown to cause MIR to be solvent.

        Whether the MIR vs. SO actually goes to court, I cannot see how it could be prosecuted in Judge Lynn's court. However, I can see Judge Lynn allowing this and perhaps other future possible payments to be added to the EV column. Normally, I would not plan on adding the outcome of a lawsuit in the asset column. However, in this case the defendants and plaintiffs are one and the same person.

        JMHO,

        Tex

    • Very interesting observation Tex. I guess it just goes to show that a corporation is an entity unto itself. Marce and Bill will be witnesses for both the plaintiff and the defense. Marce and Bill will also be both the plaintiffs and the defendants.

      I think I'll sue myself for buying this stock at $9. (disclaimer: avg. cost down to $3)

 
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